MONTREAL, Jan. 29, 2019 /PRNewswire/ - Fiera
Infrastructure Inc. ("Fiera Infrastructure"), a leading global
mid-market direct infrastructure investor and an affiliate of Fiera
Capital Corporation (the "Firm") (TSX: FSZ), announced today
that it has entered into a long-term partnership (the
"Partnership") with EllisDon Capital ("EllisDon"), an affiliate of
EllisDon Inc., Canada's premier
Public-Private Partnership ("PPP") developer, constructor, and
facilities service provider. The newly formed Partnership will
acquire EllisDon's interest in its existing portfolio of PPP
projects and have the right of first offer over EllisDon's future
PPP projects for a pre-agreed period. Fiera Infrastructure's
investment in the projects will be added to its global
infrastructure fund.
"Partnering with EllisDon, one of North America's most successful and
experienced construction capital groups, enables Fiera
Infrastructure to further access the highly competitive
Public-Private Partnership market with a strategic long-term
partner," said Alina Osorio,
President of Fiera Infrastructure. "This marquee transaction
should provide our investors with ongoing access to essential
Canadian infrastructure assets with low-risk, reliable, and stable
cash flows throughout the lives of the projects' concessions."
"This partnership demonstrates EllisDon's ongoing commitment to
proactive asset management on our PPP investments while at the same
time meeting the company's strategic business objectives," said
Joey Comeau, Senior Vice
President, EllisDon Capital. "EllisDon remains focused on
exceeding our client's expectations on each of the projects in our
investment portfolio and are excited to have established a
partnership with Fiera Infrastructure to accomplish those
goals."
EllisDon's existing portfolio contains interests in ten PPP
projects that represent a uniquely diverse asset base of Canadian
PPP projects geographically dispersed across four provinces and
three subsectors – social, healthcare and transportation.
In addition to the ten-project portfolio, EllisDon was awarded
two additional projects in 2018, each with a 100% equity interest,
which will be subject to the Partnership right of first offer
following completion of construction and stabilisation of
operations. EllisDon has completed over $4
billion worth of contracts annually, and has completed, led
and been awarded more than 30 PPP contracts, and brings a robust
pipeline of PPP projects for the new Partnership.
The Partnership was formed in October
2018 and the acquisition of the first three projects is
expected to close in Q1 2019.
Advisors
Torys LLP is acting as counsel to Fiera Infrastructure and
McCarthy Tétrault LLP is acting as counsel to EllisDon in their
establishment of the Partnership.
About EllisDon
EllisDon, an employee-owned, $4
billion-a-year construction services company, has grown
exponentially beyond its modest origins in London, Ontario. With over 5,000 salaried and
hourly employees across fifteen national and international offices,
EllisDon has become a leader in every sector and nearly every facet
of the construction industry.
EllisDon has positioned itself as a 'Cradle To Grave' Services
Provider with guaranteed performance outcomes through its Capital
Services, Facilities Management, and Sustainable Buildings
Divisions. EllisDon is determined to lead the coming disruption in
the construction sector, having recently created pioneering
initiatives in Energy Management, Smart Buildings Software and Data
Analytics.
About Fiera Infrastructure
Fiera Infrastructure is a leading global mid-market direct
infrastructure investor operating across all subsectors of the
infrastructure asset class. Led by a team of highly experienced and
specialized professionals, the firm leverages strong global
relationships, with a local presence in both Toronto and London. Its rigorous approach to investment
and asset management aligns with its long-term approach. Fiera
Infrastructure has assets under management and commitments of
C$1.6 billion, including an active
interest in 24 infrastructure assets as of December 31, 2018.
www.fierainfrastructure.com
About Fiera Capital Corporation
Fiera Capital Corporation is a global independent asset
management firm with approximately C$136.7 billion in AUM as at December 31, 2018 delivering customized
multi-asset solutions across traditional and alternative asset
classes to institutional, retail and private wealth clients across
North America, Europe and key markets in Asia. Fiera Capital strives to be at the
forefront of investment-management science and is passionate about
creating sustainable wealth for clients. Fiera Capital trades under
the ticker FSZ on the Toronto Stock Exchange.
www.fieracapital.com
In the U.S., asset management services are provided by the
Firm's U.S. affiliates who are investment advisers that are
registered with the U.S. Securities and Exchange Commission (SEC).
Further, the Firm's affiliates Fiera Capital (UK) Limited and Fiera
Capital (IOM) Limited are both registered as investment advisers
with the SEC. Fiera Capital (UK) Limited is authorized and
regulated by the Financial Conduct Authority in the United Kingdom and Fiera Capital (IOM) Limited
is licensed by the Isle of Man Financial Services Authority.
Registration with the SEC does not imply a certain level of skill
or training.
Additional information about Fiera Capital Corporation,
including the Firm's annual information form, is available on SEDAR
at www.sedar.com
Important Disclosures
No discussion with respect to specific companies should be
considered a recommendation to purchase or sell any particular
security/investment. The companies discussed do not represent all
past investments. It should not be assumed that any of the
investments discussed were or will be profitable, or that
recommendations or decisions made in the future will be
profitable.
General
This document is for information purposes only
and does not constitute an offering of any security, product,
service or fund. This document may not be used in making any
investment decision. This document contains only summary
information and no representation or warranty, express or implied,
is or will be made in relation to the accuracy or completeness of
the information contained herein, by Fiera Infrastructure, the
manager of the strategy. Should any of the descriptions or terms in
this presentation be inconsistent with any applicable governing
documents, such documents shall prevail.
Strategy
The Fiera Infrastructure Strategy is
dedicated to building a global and diversified portfolio of
mid-market core and core-plus infrastructure assets located in
North America and selected Western
European countries that are members of the OECD. The strategy seeks
to generate stable, attractive returns over the long-term. There is
no assurance that objectives will be met or that the strategy, or
any of the investments held by the strategy, will be
profitable.
Some of the statements contained in this document are, or may be
deemed to be, "forward-looking statements". These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "estimates",
"anticipates", "expects", "intends", "may", "will" or "should" or,
in each case, their negative or other variations or comparable
terminology. By their nature, forward-looking statements involve
risks and uncertainties because they relate to events and depend on
circumstance. Forward-looking statements are not guarantees of
future performance. These forward-looking statements are made as of
the date of this document, and Fiera Infrastructure assumes no
obligation to update or revise them to reflect new events or
circumstances.
Risks of Alternative Investments
Alternative
investments are speculative and involve a great deal of risk and
are not suitable for all investors. There can be no assurance that
Fiera Infrastructure's strategy or target objective will be
successful. The overall performance of the strategy is dependent
not only on investment performance but also on Fiera
Infrastructure's ability to source assets.
Investment return and principal value will fluctuate so that an
investor's units, if and when redeemed, may be worth more or less
than original cost. The fees and expenses charged within the
strategy may offset its total return. Exposure to currency
fluctuations may have an impact on such strategy's cash flow and
asset values denominated in the currency of domicile. The use of
leverage could increase the risks of an investment.
Portfolio Investments may be subject to high levels of
regulation which could result in risks related to delays in
obtaining relevant permits or approvals. Investors should be aware
that there will be instances where Fiera Infrastructure and its
affiliates or clients will experience actual conflicts of interest
with the strategy.
The information in this document reflects general information
about Fiera Infrastructure and its investment program. There can be
no assurance that any information included herein will not change
or be adjusted to reflect the environment in which Fiera
Infrastructure will operate. Historic information on performance is
not indicative of future returns. Conclusions and opinions do not
guarantee any future event or performance. Neither Fiera
Infrastructure nor any of its affiliates are liable for any errors
or omissions in the information or for any loss or damage
suffered.
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SOURCE Fiera Capital Corporation